1 Wall Street Firm Thinks ServiceNow Stock Is Going to $885. Is It a Buy?
Workplace software specialist (NYSE: NOW) is riding a strong tailwind of companies looking to digitize employee workflow. The stock is up 65% over the past year, but at recent prices it's 11% off its 52-week high of $815. This is a great buying opportunity, according to analysts at Baird.
The analysts came away from the company's recent analyst day with more confidence in its ability to capture a sizable addressable market. The firm reiterated an outperform (buy) rating on the shares and raised the price target from $870 to $885, implying a new high for the stock within the next year or so.
ServiceNow reported a solid start to the year. In the first quarter, subscription revenue grew 25% year over year to $2.5 billion. CEO Bill McDermott credited the company's advantage in being first to market in digital workflows and investment to add more capabilities to its Now platform, including the Now Assist feature powered by artificial intelligence.
Source Fool.com
ServiceNow Inc. Stock
With 55 Buy predictions and not a single Sell prediction ServiceNow Inc. is an absolute favorite of our community.
As a result the target price of 784 € shows a slightly positive potential of 15.12% compared to the current price of 681.0 € for ServiceNow Inc..
